It's really a pity how poorly the Vita is doing in Japan so far. I went into this in more detail in the Vita topic in Gaming Goodness, but I just got a Vita yesterday and it's an excellent handheld (and, unlike the 3DS, I don't get a headache within moments of booting a game up on it). The 5 games (3, really. 2 were free) I purchased for it (Uncharted: GA, Lumines Electronic Symphony, Wipeout 2048, Motorstorm RC, and Escape Plan) are all quality experiences in their own ways and I don't regret picking them up. The upcoming Resistance: Burning Skies, Gravity Rush, and my large backlog of digital PSP games will keep me busy with the Vita for quite some time.
The Vita's two big problems, unfortunately, are that the accessories and games are prohibitively expensive and the software lineup isn't enticing to Japanese tastes yet. That might change once it gets a big dating sim; cookie-cutter handheld JRPG; or the next incredibly boring Monster Hunter game (yes, I know. I have a really low opinion of the Japanese gaming market), but Sony needs to really get the Vita software rolling. I like what's there, but the Vita needs more of it and more original software to contrast the platform from the PS3.